It has been revealed that credit card companies are continuing their practice of increasing interest rates on borrowers who have never made a late payment.
Some of the worst cases are examples of credit card companies putting up rates on borrowers who have never made a late payment by as much as 100%. That could mean […]

In a move to repay government lending, Northern Rock are set to slash 60% of their home loan customer base.
Since the government bailed out the beleaguered lender earlier this year, it has been holding £24bn of government funds, a figure it aims to reduce to £1bn by 2009.  It aims to do this by refusing […]

The Land Registry currently estimates that the average house in England and Wales cost somewhere in the region of £183,896. Halifax, whose estimate includes Scotland and Northern Ireland, puts the figure somewhat higher at £198,500.
While these estimates differ by roughly £15,000 which is a substantial amount the message both indexes give is the same; House […]

There was a record number of savers depositing their money in building societies following the Northern Rock crisis last September.
Net receipts for building societies nearly doubled in September when compared with 12 months before, shooting up by 181% to 2.8bn.
This figure is more than double the amount of money deposited in building societies last August […]

You know that feeling when you go to do something at your bank and feel like you’re being rude for asking them? The clerks don’t know who you are and for the most part don’t really care. Well there is an alternative type of bank out there. This is called a credit union and you […]

It has been revealed that mortgage lending in the month of January fell by 12% and confirms reports that there has been a slowdown in the house sector.
The total value of mortgages granted in the month of February fell to £29.96bn, which is more that £4bn less than January. The figures which were released were […]

There has been a massive increase in irresponsible lending by lenders in recent years according to the Chancellor and this irresponsible lending has led to houses being massively over-valued.
The Financial Services Authority has found that one in ten house buyers opt for interest only home loans these days. Interest only mortgages are popular among many […]

Credit card companies have begun to target borrowers who don’t have a blemish on their credit records as they tighten up on credit lending. It has been reported that some credit card companies have begun to impose punishing interest rate rises on borrowers who they believe are on the verge of struggling.
Credit card companies’ look […]

As homebuyers face a market with soaring house prices as well as increased mortgage prices is it worth forgetting about purchasing a house and opting to rent a home instead?
The average house price is currently close to £200,000, base interest rates are at 5.25% and banks are turning away borrowers in droves. With these kind […]

The average Briton owes £33,000 in debt, this is almost twice as much as debt was only seven years ago when the average amount of debt was £17,000.
The large rise in debt is mainly a direct result of increases in house prices in the past decade and things are expected to get even worse in […]